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Looking for Mortgage
loobers25
Posts: 1 Newbie
Good afternoon everyone,
Me and my partner have had a house offer accepted for £200,000
We have £20,000 Deposit + fees aside for solicitors
We have decided to go for a mortgage with HSBC 2.79apr fixed 3 years
Me and my partner have both been employed 2 years and earn £1400 a month each
However, my partner has had a great opportunity during the process and has been put on a new wage called schedule of rates. He took home £2800 last month. He has a contract of 39 hours a week and gets paid sickness and holiday. However he gets paid per work he does instead of a salary. He does have an average pay which changes every month depending on the amount of work he does. His average pay for may was £180 a day. It is the average he would get paid if he was sick or on holiday. He has only been on the schedule of rates one month.
I'm so worried no one will accept us for a mortgage since he has no salary to give them to calculate even though its still with the same employer which is a housing association . We are going through the process with HSBC but been advised to find another lender. Estate agents are saying we might loose the house if we don't hurry and get the solicitors out.
His employer has written this for us:
I am writing with regards to our above mentioned employee who has advised you require confirmation from us as to his pay and contract arrangements.
I can confirm that Joseph is employed with us on a permanent basis and is contracted for 39 hours per week. I can confirm Joseph is not on a zero hours contract.
His pay is based on our Performance Related Pay Scheme which rewards our employees directly for each job undertaken in relation to the value allowed in the Schedule of Rates. As well as being paid for each job undertaken, Joseph is paid an average daily rate for any holiday, sickness and training, or in the unlikely event that no work is available.
Joseph’s average daily rate of pay for May was £180.67. This will change on a monthly basis dependent on Joseph’s earnings over the preceding 12 months.
Any advice would be greatly appreciated or any mortgage lenders we could go to?
Me and my partner have had a house offer accepted for £200,000
We have £20,000 Deposit + fees aside for solicitors
We have decided to go for a mortgage with HSBC 2.79apr fixed 3 years
Me and my partner have both been employed 2 years and earn £1400 a month each
However, my partner has had a great opportunity during the process and has been put on a new wage called schedule of rates. He took home £2800 last month. He has a contract of 39 hours a week and gets paid sickness and holiday. However he gets paid per work he does instead of a salary. He does have an average pay which changes every month depending on the amount of work he does. His average pay for may was £180 a day. It is the average he would get paid if he was sick or on holiday. He has only been on the schedule of rates one month.
I'm so worried no one will accept us for a mortgage since he has no salary to give them to calculate even though its still with the same employer which is a housing association . We are going through the process with HSBC but been advised to find another lender. Estate agents are saying we might loose the house if we don't hurry and get the solicitors out.
His employer has written this for us:
I am writing with regards to our above mentioned employee who has advised you require confirmation from us as to his pay and contract arrangements.
I can confirm that Joseph is employed with us on a permanent basis and is contracted for 39 hours per week. I can confirm Joseph is not on a zero hours contract.
His pay is based on our Performance Related Pay Scheme which rewards our employees directly for each job undertaken in relation to the value allowed in the Schedule of Rates. As well as being paid for each job undertaken, Joseph is paid an average daily rate for any holiday, sickness and training, or in the unlikely event that no work is available.
Joseph’s average daily rate of pay for May was £180.67. This will change on a monthly basis dependent on Joseph’s earnings over the preceding 12 months.
Any advice would be greatly appreciated or any mortgage lenders we could go to?
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